The Ukraine Crisis

[BDKJMU]

If it was only just as simple as if the pipeline were in operation or not. However, in the big picture, energy policy is much more than just one pipeline. The current administration has made it very clear that they are in favor of phasing out fossil fuels (not a bad goal, per se) and they are in favor of doing it as quickly as they can. While not a bad goal, everything is in the timing. We're not anywhere close to being able to turn off the oil supply and go all renewables, and we're likely decades away from that. Where the damage to the economy comes in the meantime, and this includes gas prices, is when you advertise that you are anti-fossil fuels to the extent that the current administration has, then you've made any investment in anything related to fossil fuels so unattractive that those business have to turn elsewhere. Therefore capital spend on new drilling dries up, the ability to quickly turn on and off supply goes away, and you generally start to increase gas prices as a result. Throw in an ill-timed war, happening partly because of previous poor performance on the world stage by this administration (and certainly by previous ones, no doubt), and you have a genuine gas price crisis. Plus it starts to make people more aware of the incredibly regressive tax (i.e. hurts poorer people far more than richer people) on gas. Quite the conundrum for the current administration, and largely of their own doing.

They(oil) have thousands of leases they can drill whenever they want and their profits are at record levels. They can turn it on whenever they feel theres enough money in it.

Nice red herring. Most of those leases have little to no oil underneath.

Biden campaigned on getting rid of fossil fuels. His 1st days in office he issued EOs trying to do just that. Production under Biden down with prices up way up before the invasion. Dems the facts.

[kalm]

They(oil) have thousands of leases they can drill whenever they want and their profits are at record levels. They can turn it on whenever they feel theres enough money in it.

Nice red herring. Most of those leases have little to no oil underneath.

Biden campaigned on getting rid of fossil fuels. His 1st days in office he issued EOs trying to do just that. Production under Biden down with prices up way up before the invasion. Dems the facts.

It’s adorable who much power and credit you assign to Biden.

[Ibanez]

They(oil) have thousands of leases they can drill whenever they want and their profits are at record levels. They can turn it on whenever they feel theres enough money in it.

Nice red herring. Most of those leases have little to no oil underneath.

Biden campaigned on getting rid of fossil fuels. His 1st days in office he issued EOs trying to do just that. Production under Biden down with prices up way up before the invasion. Dems the facts.

Those aren't facts. Production isn't down. I'm guessing you have NOT actually researched the data and are just going by whatever you read/hear in conservative media.

1) Those EOs that paused drilling and land leases were struck down by the courts last spring. The pause wasn't indefinite, it was for a review.
https://www.reuters.com/business/energy ... 021-06-15/

2) According to the EIA, we've produced about 1,000 gallons less a day in 2020 than we did in 2019 and 98 fewer barrels in 2021 than in 2020.

3) Oil production in the U.S. in Biden’s first year is on par with 2020 and higher than in three of the four years Trump was president.
https://www.eia.gov/dnav/pet/hist/LeafH ... rfpus2&f=m
You're telling me $5/gallon gas is b/c of approx 35,000 barrels/year? Surely inflation, supply and demand and other economic/market factors should be taken into account?

4) I can understand the drop in 2020 as it's attributed to the Pandemic and certainly isn't Trump's fault.

5) Looking at the government data - I took an avg from Jan 2017 to Jan 2021 and the USA produced about 10,966 barrels a day. 10,146 if you only count 2017-2018. Biden's first full year is 11,174 barrels a day.

That tells me there's something else at play. Pandemic? Increased supply and demand (this is one reason lumber prices have yet to drop - increased demand). OPEC pricing factors in but we import substantially less oil from OPEC countries than we do from Non-OPEC countries. Russia is only 8% of our oil imports and we only recently banned them so I don't take that as an excuse. All other contributing factors that conservative media ignores and it plays right to their base.

6) Presidential policies surely factor in but to say we are producing less is just a bold face lie.

[houndawg]

They(oil) have thousands of leases they can drill whenever they want and their profits are at record levels. They can turn it on whenever they feel theres enough money in it.

Nice red herring. Most of those leases have little to no oil underneath.

Biden campaigned on getting rid of fossil fuels. His 1st days in office he issued EOs trying to do just that. Production under Biden down with prices up way up before the invasion. Dems the facts.

If production is down its because Big Oil wants it down. Profits are at record levels right now; who in the oil bidniz would want to change that?

[Ibanez]

Nice red herring. Most of those leases have little to no oil underneath.

Biden campaigned on getting rid of fossil fuels. His 1st days in office he issued EOs trying to do just that. Production under Biden down with prices up way up before the invasion. Dems the facts.

If production is down its because Big Oil wants it down. Profits are at record levels right now; who in the oil bidniz would want to change that?

Down compared to what and when? Down compared to the Trump years, it's not. Seriously, go look at the data.

Not including 2020, for obvious reasons, is the US consuming more, less or average amounts of oil?

[houndawg]

If production is down its because Big Oil wants it down. Profits are at record levels right now; who in the oil bidniz would want to change that?

Down compared to what and when? Down compared to the Trump years, it's not. Seriously, go look at the data.

Not including 2020, for obvious reasons, is the US consuming more, less or average amounts of oil?

that isn't what I'm arguing, I'm saying that production is where the oil companies want it to be. Tell me why they would want to bring prices down by increasing supply

[CAA Flagship]

Down compared to what and when? Down compared to the Trump years, it's not. Seriously, go look at the data.

Not including 2020, for obvious reasons, is the US consuming more, less or average amounts of oil?

that isn't what I'm arguing, I'm saying that production is where the oil companies want it to be. Tell me why they would want to bring prices down by increasing supply

Why would they want to keep prices up and increase the appetite for electric vehicles?

[houndawg]

that isn't what I'm arguing, I'm saying that production is where the oil companies want it to be. Tell me why they would want to bring prices down by increasing supply

Why would they want to keep prices up and increase the appetite for electric vehicles?

They want to keep prices at this level until we get used to it, then they can add supply at a higher margin?

[Ibanez]

Down compared to what and when? Down compared to the Trump years, it's not. Seriously, go look at the data.

Not including 2020, for obvious reasons, is the US consuming more, less or average amounts of oil?

that isn't what I'm arguing, I'm saying that production is where the oil companies want it to be. Tell me why they would want to bring prices down by increasing supply

Supply is only one factor into prices. Demand, power of the dollar, market conditions, geopolitical forces also play into it. That's my point. Prices are not sky high because of avg supply and Exxon/Shell/BP/Chevron/Aramco/Marathon exec greed for more profits.

This problem isn't as easy as saying, "It's Biden's fault!" That's a sound bite and the issue is more complex than that. I'm an idiot and I could figure that out.

[SeattleGriz]

Don't know if it is true, but on the surface, makes sense. Was reading one person's perspective that the labs in Ukraine were kept or put in place to keep the Russian talent local after it's break years ago.

You don't want some crusty old scientist to take his biowarfare skills to Iran, so you pay him money to stay home.

Still don't trust our media.

[BDKJMU]

Nice red herring. Most of those leases have little to no oil underneath.

Biden campaigned on getting rid of fossil fuels. His 1st days in office he issued EOs trying to do just that. Production under Biden down with prices up way up before the invasion. Dems the facts.

Those aren't facts. Production isn't down. I'm guessing you have NOT actually researched the data and are just going by whatever you read/hear in conservative media.

1) Those EOs that paused drilling and land leases were struck down by the courts last spring. The pause wasn't indefinite, it was for a review.
https://www.reuters.com/business/energy ... 021-06-15/

2) According to the EIA, we've produced about 1,000 gallons less a day in 2020 than we did in 2019 and 98 fewer barrels in 2021 than in 2020.

3) Oil production in the U.S. in Biden’s first year is on par with 2020 and higher than in three of the four years Trump was president.
https://www.eia.gov/dnav/pet/hist/LeafH ... rfpus2&f=m
You're telling me $5/gallon gas is b/c of approx 35,000 barrels/year? Surely inflation, supply and demand and other economic/market factors should be taken into account?

4) I can understand the drop in 2020 as it's attributed to the Pandemic and certainly isn't Trump's fault.

5) Looking at the government data - I took an avg from Jan 2017 to Jan 2021 and the USA produced about 10,966 barrels a day. 10,146 if you only count 2017-2018. Biden's first full year is 11,174 barrels a day.

That tells me there's something else at play. Pandemic? Increased supply and demand (this is one reason lumber prices have yet to drop - increased demand). OPEC pricing factors in but we import substantially less oil from OPEC countries than we do from Non-OPEC countries. Russia is only 8% of our oil imports and we only recently banned them so I don't take that as an excuse. All other contributing factors that conservative media ignores and it plays right to their base.

6) Presidential policies surely factor in but to say we are producing less is just a bold face lie.

Yes, a pause due to an unecessary review put in place by Biden. Jan 27, 2021:

Biden suspends oil and gas leasing in slew of executive actions on climate change

Biden’s orders direct the secretary of the Interior Department to halt new oil and natural gas leases on public lands and waters, and begin a thorough review of existing permits for fossil fuel development...

https://www.cnbc.com/2021/01/27/biden-s ... es-of.html

Bidens review caused the pause last year, AND the current pause, because it was the Biden admin’s new way of calculating so called global warming that led to the court case and judge’s ruling in the 1st place.

Last month:

Biden halts oil, gas leases amid legal fight on climate cost
…….President Joe Biden on his first day in office restored the climate cost estimate to about $51 per ton of carbon dioxide emissions, after President Donald Trump had reduced the figure to $7 or less per ton.

https://abcnews.go.com/Business/wireSto ... t-83047602

If the Biden admin doesn’t make changes, there’s no leasing pause last year or this year. So he 100% owns that.

End of 19’/beginning of 20’, before the pandemic hit, we were producing about 1.5 million billion bpd more than right now. And we’re post pandemic now. And where are the Jan & Feb 2022 #s?

Biden in his own words on his war on fossil fuels.:



Do you not believe Biden? I do when he says he wants to get rid of fossil fuels.

If the POTUS of the US, and his admin (see comments by Sec of Energy Granholm) has declared war on fossil fuels, and you’re an investor, are you going to want to invest $$$$ in oil amd nat gas? Probably not.

Biden’s own words means he 100% owns the increase in gas prices and accompanying inflation.

[kalm]

[AZGrizFan]

Those aren't facts. Production isn't down. I'm guessing you have NOT actually researched the data and are just going by whatever you read/hear in conservative media.

1) Those EOs that paused drilling and land leases were struck down by the courts last spring. The pause wasn't indefinite, it was for a review.
https://www.reuters.com/business/energy ... 021-06-15/

2) According to the EIA, we've produced about 1,000 gallons less a day in 2020 than we did in 2019 and 98 fewer barrels in 2021 than in 2020.

3) Oil production in the U.S. in Biden’s first year is on par with 2020 and higher than in three of the four years Trump was president.
https://www.eia.gov/dnav/pet/hist/LeafH ... rfpus2&f=m
You're telling me $5/gallon gas is b/c of approx 35,000 barrels/year? Surely inflation, supply and demand and other economic/market factors should be taken into account?

4) I can understand the drop in 2020 as it's attributed to the Pandemic and certainly isn't Trump's fault.

5) Looking at the government data - I took an avg from Jan 2017 to Jan 2021 and the USA produced about 10,966 barrels a day. 10,146 if you only count 2017-2018. Biden's first full year is 11,174 barrels a day.

That tells me there's something else at play. Pandemic? Increased supply and demand (this is one reason lumber prices have yet to drop - increased demand). OPEC pricing factors in but we import substantially less oil from OPEC countries than we do from Non-OPEC countries. Russia is only 8% of our oil imports and we only recently banned them so I don't take that as an excuse. All other contributing factors that conservative media ignores and it plays right to their base.

6) Presidential policies surely factor in but to say we are producing less is just a bold face lie.

mark, you’re misreading the data. We aren’t 1,000 barrels per month less. We’re 1,000,000 barrels per month less. Production peaked In early 2020 at about 13,000,000 bbl/month, and was subsequently crushed by COVID. It never recovered above 11,500,000 until the last month where it’s jumped up just short of 12,000,000. But it’s still 1,000,000 barrels a month short of where it was when Trump was in office pre-COVID.

[BDKJMU]

Another one bites the dust.
https://rumble.com/embed/vuh8bh/?pub=4

[Ivytalk]

It’s a simple question of weight ratios.

[SeattleGriz]

They are wet market birds.

[kalm]

It’s a simple question of weight ratios.

Well you probably don’t find any in Mercia.

[SeattleGriz]

Hey. Qatar is now a major Non-Nato ally. Looks like that is how we are going to get US weapons to Ukraine.

[Ibanez]

Those aren't facts. Production isn't down. I'm guessing you have NOT actually researched the data and are just going by whatever you read/hear in conservative media.

1) Those EOs that paused drilling and land leases were struck down by the courts last spring. The pause wasn't indefinite, it was for a review.
https://www.reuters.com/business/energy ... 021-06-15/

2) According to the EIA, we've produced about 1,000 gallons less a day in 2020 than we did in 2019 and 98 fewer barrels in 2021 than in 2020.

3) Oil production in the U.S. in Biden’s first year is on par with 2020 and higher than in three of the four years Trump was president.
https://www.eia.gov/dnav/pet/hist/LeafH ... rfpus2&f=m
You're telling me $5/gallon gas is b/c of approx 35,000 barrels/year? Surely inflation, supply and demand and other economic/market factors should be taken into account?

4) I can understand the drop in 2020 as it's attributed to the Pandemic and certainly isn't Trump's fault.

5) Looking at the government data - I took an avg from Jan 2017 to Jan 2021 and the USA produced about 10,966 barrels a day. 10,146 if you only count 2017-2018. Biden's first full year is 11,174 barrels a day.

That tells me there's something else at play. Pandemic? Increased supply and demand (this is one reason lumber prices have yet to drop - increased demand). OPEC pricing factors in but we import substantially less oil from OPEC countries than we do from Non-OPEC countries. Russia is only 8% of our oil imports and we only recently banned them so I don't take that as an excuse. All other contributing factors that conservative media ignores and it plays right to their base.

6) Presidential policies surely factor in but to say we are producing less is just a bold face lie.

Yes, a pause due to an unecessary review put in place by Biden. Jan 27, 2021:

Biden suspends oil and gas leasing in slew of executive actions on climate change

Biden’s orders direct the secretary of the Interior Department to halt new oil and natural gas leases on public lands and waters, and begin a thorough review of existing permits for fossil fuel development...

https://www.cnbc.com/2021/01/27/biden-s ... es-of.html

Bidens review caused the pause last year, AND the current pause, because it was the Biden admin’s new way of calculating so called global warming that led to the court case and judge’s ruling in the 1st place

President Joe Biden on his first day in office restored the climate cost estimate to about $51 per ton of carbon dioxide emissions, after President Donald Trump had reduced the figure to $7 or less per ton.

https://abcnews.go.com/Business/wireSto ... t-83047602

If the Biden admin doesn’t make changes, there’s no leasing pause last year or this year. So he 100% owns that.

End 21’ we’re producing about 1.5 million billion bpd than right before the pandemic hit. And we’re post pandemic now. And where are the Jan & Feb 2022 #s?

Biden in his own words on his war on fossil fuels.:



Do you not believe Biden? I do when he says he wants to get rid of fossil fuels.

If the POTUS of the US, and his admin (see comments by Sec of Energy Granholm) has declared war on fossil fuels, and you’re an investor, are you going to want to invest $$$$ in oil amd nat gas? Probably not.

Biden’s own words means he 100% owns the increase in gas prices and accompanying inflation.

We were not producing 1.5 million billion barrels per day - that's a stupid fucking number.

[Baldy]

Lots of folks in this thread have no idea how commodity markets work.

[CAA Flagship]

Lots of folks in this thread have no idea how commodity markets work.

Let 'em go. They're on a roll.

[Ibanez]

Those aren't facts. Production isn't down. I'm guessing you have NOT actually researched the data and are just going by whatever you read/hear in conservative media.

1) Those EOs that paused drilling and land leases were struck down by the courts last spring. The pause wasn't indefinite, it was for a review.
https://www.reuters.com/business/energy ... 021-06-15/

2) According to the EIA, we've produced about 1,000 gallons less a day in 2020 than we did in 2019 and 98 fewer barrels in 2021 than in 2020.

3) Oil production in the U.S. in Biden’s first year is on par with 2020 and higher than in three of the four years Trump was president.
https://www.eia.gov/dnav/pet/hist/LeafH ... rfpus2&f=m
You're telling me $5/gallon gas is b/c of approx 35,000 barrels/year? Surely inflation, supply and demand and other economic/market factors should be taken into account?

4) I can understand the drop in 2020 as it's attributed to the Pandemic and certainly isn't Trump's fault.

5) Looking at the government data - I took an avg from Jan 2017 to Jan 2021 and the USA produced about 10,966 barrels a day. 10,146 if you only count 2017-2018. Biden's first full year is 11,174 barrels a day.

That tells me there's something else at play. Pandemic? Increased supply and demand (this is one reason lumber prices have yet to drop - increased demand). OPEC pricing factors in but we import substantially less oil from OPEC countries than we do from Non-OPEC countries. Russia is only 8% of our oil imports and we only recently banned them so I don't take that as an excuse. All other contributing factors that conservative media ignores and it plays right to their base.

6) Presidential policies surely factor in but to say we are producing less is just a bold face lie.

mark, you’re misreading the data. We aren’t 1,000 barrels per month less. We’re 1,000,000 barrels per month less. Production peaked In early 2020 at about 13,000,000 bbl/month, and was subsequently crushed by COVID. It never recovered above 11,500,000 until the last month where it’s jumped up just short of 12,000,000. But it’s still 1,000,000 barrels a month short of where it was when Trump was in office pre-COVID.

That's a stupid mistake on my part. It still doesn't change the basic fact that Production under the Biden Administration, since 2021, is above the first 2 years of Trump and isn't far off from 2020. And btw, production peaked in late 2019, not 2020. You average it out, we aren't really producing that much less. We are producing approximately 2% less than we did in the Trumps final 2 years. 2% less is really what's making the cost of gas skyrocket?

Avg daily barrel production
2017 - 9,355.75
2018 - 10,936.75
2019 - 12,286.25
2020 - 11,289.08
2021 - 11,174.50

[BDKJMU]

Yes, a pause due to an unecessary review put in place by Biden. Jan 27, 2021:

https://www.cnbc.com/2021/01/27/biden-s ... es-of.html

Bidens review caused the pause last year, AND the current pause, because it was the Biden admin’s new way of calculating so called global warming that led to the court case and judge’s ruling in the 1st place

https://abcnews.go.com/Business/wireSto ... t-83047602

If the Biden admin doesn’t make changes, there’s no leasing pause last year or this year. So he 100% owns that.

End 21’ we’re producing about 1.5 million billion bpd than right before the pandemic hit. And we’re post pandemic now. And where are the Jan & Feb 2022 #s?

Biden in his own words on his war on fossil fuels.:



Do you not believe Biden? I do when he says he wants to get rid of fossil fuels.

If the POTUS of the US, and his admin (see comments by Sec of Energy Granholm) has declared war on fossil fuels, and you’re an investor, are you going to want to invest $$$$ in oil amd nat gas? Probably not.

Biden’s own words means he 100% owns the increase in gas prices and accompanying inflation.

We were not producing 1.5 million billion barrels per day - that's a stupid fucking number.

Yeah, that sentence was all jacked up. What I meant to say was:

End of 19’/beginning of 20’, before the pandemic hit, we were producing about 1.5 million barrels per day more than right now. And we’re post pandemic now

.

[HI54UNI]

Interesting thread on Ukraine

https://threadreaderapp.com/thread/1500 ... 54946.html

[89Hen]

It still doesn't change the basic fact that Production under the Biden Administration, since 2021, is above the first 2 years of Trump and isn't far off from 2020.

Tell me you don't understand oil prices without telling me you don't understand oil prices.